Management by Objectives, What is objective in management? Definition of Objectives of Management, Meaning of Objectives of Management. An objective is a sub-goal. It identifies a short-term, assessable step contained by a designed period of time that is moving toward achieving a long-term aim. A lot of philosophers explain objectives in Different Ways.
Although some theorists try to draw a fine distinction between goals and objectives managers usually use the terms interchangeably. Goals or objectives are considered important ends towards which organizational and individual activities are directed. An objective may be defined as a specific commitment to achieve a measurable result within a given time period. According to many experts, objectives are the single most important feature of the planning process. All managers must be able to set good objectives, to be aware of their importance and to understand how objectives combine to form a means-ends chain. Business Communication
According to Anthony P. Raia, “Objectives should be expressed in quantitative, measurable, concrete terms, in the form of a written statement of expected results to be achieved within a given period of time.”
In other words, objectives should represent a firm commitment to attain something specific. So, a well written objective should state what is to be accomplished and when and objective should state what is capable and when will be done.
Management by Objectives
Management by objective (MBO) may be a method of shaping objectives among a company so management and workers conform to the objectives and perceive what they’re within the organization. The essence of Management by Objective is participate goal setting, selecting course of actions and higher cognitive process.
A crucial a part of the management by objective is that the commonplace set. Ideally, once workers themselves are involved the goal setting and therefore the selecting the course of action to be followed by them, they’re additional doubtless to satisfy their responsibilities.
It aims to extend structure performance by orienting goals and subordinate objectives throughout the organization. Ideally, staff gets sturdy input to spot their objectives, time lines for completion etc. Management by objectives was 1st define by Peter Drucker in 1954 in his book the Practice of Management. There are more information about What is planning in Management Business?